Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

April 17, 2019

Tougher Advocacies Shaping the Landscape of the Harrisburg, Pennsylvania Business Climate

By Achim Neumann

Harrisburg, the county seat of Dauphin County has always been one of the most vibrant business centers in the country. The region has a growing technology and biotechnology sector and is one of the most service-oriented cities around the East Coast area.

Over the years, tougher advocacies have been implemented to magnify the current economic growth experienced not just around the Harrisburg region, but throughout the state. Proposed economic development goals as in full swing as months of discussions help to encourage business growth in and around the city district.

Turning Pennsylvania into an Economic Powerhouse

Though the city has had drawbacks in terms of job creation, several measures are being implemented by the government to address the problem. Among such measures include bringing the entrepreneurial spirit amongst the general population to impede a possible economic downturn and societal deterioration which makes Dauphin County a great place to buy a business in Harrisburg or sell a business in Harrisburg.

City officials are also working on reducing regulatory systems that often weigh businesses down. The overabundance of statutes and procedures become an unnecessary burden to business owners because of their complex nature and varied interpretations.  Key measures including simplification of guidelines and the implementation of an effective tax policy hope to encourage the expansion of new businesses and support for the current pool of investors.

Encouraging the economic growth of Harrisburg, Pennsylvania and the rest of the region is also targeted towards harnessing of new job opportunities. Because the city has mostly service-oriented industries, targeting economic strategies based on the diversity of the available workforce is one of the city’s top priorities.

Bettering Harrisburg’s Infrastructure for Maximum Growth

Infrastructure development is a top priority not just in Harrisburg but around the state. The energy, agriculture, manufacturing, and transportation industry are joining forces to implement several projects directed towards maximum growth of the economy. Such state-wide projects include the $57 million transportation infrastructure rehabilitation program to ensure safe and reliable roadways throughout the state.

A $92 million water infrastructure project was also recently approved by the Pennsylvania Infrastructure Investment Authority (PENNVEST) expected to run across 13 counties. This project aims to provide local residents with a clean water source, stormwater management, and non-point secure water quality improvements.

The project also pushes to benefit not just public health, but also contribute to the economic development of the region. Counties expected to benefit from the water project includes Carbon, Clearfield, Mercer, and Schuylkill among others.

Training and Development Projects to Address Workforce Needs

Harrisburg’s contribution to the realization of Pennsylvania’s goal of contributing to the national economic growth is through training and development of a highly skilled workforce. Several companies and private institutions have pledged an alliance to this program including the Associated Builders and Contractors, Inc. who recently announced support for the city’s workforce development efforts.

Non-skilled training is also widely available in the city to help the unemployed population land a better job. Harrisburg is a recipient of the National Green Infrastructure Certification Program (NGICP) which aims to help people get training and certification for the green infrastructure industry.

National and local agencies are working tirelessly to raise qualified and highly skilled workforce. Investing in future workers and helping retain tenured workers will deliver support for the city and states economic growth. The ongoing structural and educational developments around the city are expected to boost fiscal growth and upsurge the business climate.

If you would like to learn more about the business climate in Harrisburg, or you are interested in selling a business in Harrisburg, buying a business in Harrisburg, or running a quality business valuation in Harrisburg, then please reach out to us on our contact page!

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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